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The best way to get the money you need

Make your home work, when you need it too.

A home equity loan is a great way to access needed cash quickly and without fees

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  • Overview

    Home Equity Loans Benefits

    Home equity loans provide an easy source of cash. The interest rate on a home equity loan although higher than that of a first mortgage is typically much lower than credit card rates. As such, the number one reason consumers borrow against the value of their homes via a fixed-rate home equity loan is to pay off credit card balances.

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    4 reasons a Home Equity Loan could be a good choice

    • Home improvements that will add value
    • Emergency family expenses
    • Consolidating high-interest debt
    • Funding investments (use caution)
    • Financing Education

    Fixed Term or HELOC

    You design the term you prefer.  Whether it is a fixed rate and term or open-ended type of Home Equity Loan we can help!

    Should You Tap Your Home’s Equity?

    Conduct a careful review of your financial situation before you borrow against your home. Home equity loans can be valuable tools for responsible borrowers. A home equity loan can help cover the cost of a single, large purchase, such as a new roof on your home or an unexpected medical bill.

    People here are never in too much of a hurry to answer all my questions. They always have a smile on their face.

    Mea e.
  • Rates


    Home Equity Lines-of-Credit

    Rates Effective as of: 07-23-2019
    Other Info Max Term Term Rate (APR)
    Payment: 1.6% of Balance $50 Minimum LTV Up to 80% As low as 5.25%

    Home equity lines of credit are variable rate loans, indexed to the prime rate and adjustable quarterly. The maximum rate is 18.0% Annual Percentage Rate (APR).

    Home Equity Closed End Loans

    Rates Effective as of: 07-23-2019
    Other Info Max TermTerm Rate (APR)
    LTV Up to 70% 12 to 72 Months As low as 4.75%
    LTV Up to 70% 73 to 120 Months As low as 5.00%
    LTV Up to 70% 121 to 180 Months As low as 5.25%
    LTV 71% to 80% 12 to 72 Months As low as 5.50%
    LTV 71% to 80% 73 to 120 Months As low as 5.75%
    LTV 71% to 80% 121 to 180 Months As low as 6.00%

    Interest Rate Fixed

  • FAQs

    Frequently Asked Questions

    Yes!  With our home equity line of credit you'll enjoy a ready cash reserve that's available whenever you need it.  To apply please apply via or website, online banking or give us a all at 248-263-4100.
    People Driven Credit Union wants to be your mortgage lender! We partner with Member First Mortgage to provide you with a wide range of mortgage services. Whether you are buying your first home, building your dream home, moving up, or scaling down, Member First Mortgage has many programs to fit your needs. Apply for your mortgage today by clicking the link or calling (866) 898-1818.

Ready to get the money you need?

Start with our digital application below

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A Fixed Home Equity loan is a traditional closed-end loan often referred to as a second mortgage. The borrower receives a one-time lump sum to be repaid over a fixed term and interest rate. Monthly payments remain the same throughout the lifetime of the loan.

Mortgage rates change daily, therefore inquire with PDCU for current mortgage rates.

Enjoy the added convenience of making your payments with Direct Deposit. * Use of a calculator tool is not a guarantee of credit.

*APR = Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information Rates quoted assume excellent borrower credit history. Not all applicants will qualify for the lowest rate. The rate you receive on your loan will be the rate in effect at the time of loan disbursal

People Driven Credit Union is an Equal Housing Lender NMLS #776727